September 2008

As you probably noticed in my last blog entry, I was not a believer in yesterday's rally. Frankly, I am skeptical about the current environment and the Treasury's hybrid decision to bail out Fannie Mae and Freddie Mac while maintaining shareholder equity. I am a realist and understand the options were limited given the current circumstances--but I'm over-the-top angry and frustrated about what ... read more

It's been hours, days, weeks of anticipation, and I find myself still trying to digest what has happened to Fannie Mae and Freddie Mac. When I used to work on Wall Street, I traded FNM and FRE stock on the Institutional Equity trading desk at Morgan Stanley. That meant that I was in essence the sole dealmaker or trader of the common shares in our U.S. equity business. As I result, I got to know ... read more

I'm not sure whether to be happy or incredibly sad about what transpired over the weekend with the government's decision to bail out Fannie Mae (FNM) and Freddie Mac (FRE). The cynic in me can't help but notice the timing of this bailout package. The weekend following a terrible increase in unemployment in this country to 6.1%--the worst level in five years--had to make Treasury Secretary ... read more

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I never thought that I'd have to say this, but I'm saying it now. The double standard by which the press and politicians on both sides of the aisle are attacking Governor Sarah Palin's ability to lead this country as the proposed Republican vice presidential nominee is disgraceful. I have never considered myself a true feminist, although there is no doubt that, without something called the ... read more

In the aftermath of Hurricane Gustav, insured losses are expected to reach $10 billion. In comparison, Katrina caused a record $41.1 billion of insured losses in 2005. It was the costliest storm in U.S. history. Up until I returned to New York and started to do some homework, I had no idea that Louisiana had actually done remarkably well, financially speaking, since Katrina. Look at some of ... read more

It's almost 8 p.m. Eastern time and I just arrived back in New York after flying out of Mobile, Alabama, with a layover in Atlanta. More on that later. Needless to say, the past 48 hours have had their fair share of ups and downs. I had no idea what to expect when I got the call asking if I wanted to go to New Orleans for the hurricane. Honestly, I'm still taking it all in. Last night, I was ... read more

3:00pm It's only 3 p.m. Central time Monday and yet it feels like Tuesday. When I left you last night, it truly was the calm before the storm. As I expected, I could hardly sleep. It seemed too calm. Every half-hour, I sprung up waiting for loud noises. I was told by one hurricane veteran to take a shower before going to bed and then fill my bathtub with water in the event that power went out. ... read more